Comments on: Teaching Children about Money: Ten Principleshttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/
Bridging the gap between saving money and investingTue, 31 Mar 2015 04:09:43 +0000hourly1http://wordpress.org/?v=4.0.1By: me+garyhttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/comment-page-1/#comment-652343
Sun, 15 Nov 2009 08:12:22 +0000http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-652343Our children must EARN their allowance, no freebies!! As a single parent that was *less* than good with money throughout my youth, teaching children about money is CRUCIAL, in my mind. I
]]>By: awdatahttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/comment-page-1/#comment-545621
Sat, 07 Mar 2009 01:51:14 +0000http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-545621Savings relies on having more income than expenses. For children, I recommend an allowance with a component that they can spend as they want, and one for some of their “regular” candy/toy/clothing purchases. Then for savings, let them build short term and long term savings, where they can raid the short term savings for certain jointly approved purchases.
]]>By: Gina Waddinghttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/comment-page-1/#comment-511797
Fri, 09 Jan 2009 16:03:43 +0000http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-511797I have two comments, where can I put a dollar a day away and get 8% return?

with my children I sometimes let them help me with the bill paying I let them put the checks in the envelopes and put the stamps on them then check pd on my Budget chart for that month. I answer all there questions and help them to understand that everything costs money. We even got to pay for the water that is used when we flush the toilet.

]]>By: Stacyhttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/comment-page-1/#comment-243442
Tue, 12 Feb 2008 22:01:59 +0000http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-243442I think these are good ideas. It is good to be open (to a point) about money with kids. I especially like the part that was added about making kids wait to make large purchases.
]]>By: Jeffrey Reeveshttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/comment-page-1/#comment-168719
Thu, 29 Nov 2007 23:15:37 +0000http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-168719And you would expect one of the top ten principles to deal with saving – but, no. Lots about spending but nary a hint about saving.

It seems paying a fee for finacial advice does not require the advisor to have judgment – just knowledge. Proof again that folks who take on the mantle of financial planning and write about money often are so bound up with conventional wisdom that they overlook common sense.

]]>By: Minimum Wagehttp://www.pfadvice.com/2007/11/28/teaching-children-about-money-ten-principles/comment-page-1/#comment-167597
Thu, 29 Nov 2007 01:48:10 +0000http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-167597I just tried out the millionaire calculator and came up with an inspiring result, which is even more inspiring after reading this post.

If a parent invests $30 per month ($1 per day) at 8 percent for their child starting the day the child is born, and the child takes over at the point they are able to earn money for optional jobs, if they maintain this $30 per month pace, the child will ultimately have a cool million in about 814 months (68 years).